Athletic retailer Under Armour announced that it has had lower sales than forecast, culminating in unexpected losses amid the backdrop of supply chain shortages and other challenges faced during COVID lockdowns. The Baltimore, Maryland-based company’s stock dropped on Friday as weak guidance regarding profits wasn’t in line with estimates from...
Thursday morning, the yield on a 10-year Treasury note was up by 10 basis points, rising to 3.011 percent. The yield had also hit 3 percent on Monday amid inflation concerns and speculation that any more aggressive hikes could result in slower economic growth. The 30-year Treasury bond also saw...
On Tuesday, share prices of Expedia fell by more than 13 percent amid mixed financial reports over the online travel company’s earnings. While there has been plenty of optimism regarding travel from many top executives, Expedia CEO Peter Kern said the Russian war against Ukraine, inflation, and an apparent increase...
Exxon Mobil saw increased profit during the first quarter, settling at $5.5 billion. Last year during the same quarter, the oil and gas giant brought in $2.7 billion. But, earnings were lower than 2021’s final quarter, which saw $8.87 billion in profits. Still, Exxon shares were down on Friday morning...
The wireless technology company, Qualcomm, reported elevated earnings on Wednesday for the second quarter. Per its earnings report, all of the I0T company’s major chip markets had grown and smashed analysts’ expectations by the end of the second quarter, which ended in March. The Android chipmaker reported its revenue at...
Twitter has accepted a buyout deal from Elon Musk. The billionaire Tesla owner wants to take the social media company to a private status. Musk offered to buy Twitter for $54.20 per share, citing that it was his “best and final” offer. The $44 billion deal prompted Twitter stock to...
The Dow plunged on Friday after Federal Reserve Chairman Jerome Powell made comments about the probability of increasing interest rates further. At one point, the index was down by 1,019 points as it came close to the finishing line for the week. But, it recovered slightly and ended the...
The second-largest credit card company by volume topped forecasts for its first-quarter profit, rising 34 percent to $9.06 billion. American Express benefitted in a big way as credit-card spending saw a resurgence from last year. The company saw increased customer engagement costs thanks to a heightened reward payouts program....
Gap shares fell by 18 percent during premarket trading on Friday after the retailer slashed sales outlook for the first fiscal quarter of 2022. The company said that it was facing “execution challenges” for its Old Navy division and that its CEO, Nancy Green, would be departing her post...
July corn futures contracts traded at over $8 a bushel on Monday, their highest level since 2012. This marked more than a $2 per bush increase since January when corn futures traded at almost $6 a bushel. But it’s just one of many agricultural commodities that have experienced higher...